Kurdistan delegation responds to the Iraqi oil statement on the resumption of the region’s oil exports, 23 FEB

 Kurdistan delegation responds to the Iraqi oil statement on the resumption of the region’s oil exports

It requires agreeing on local consumption quantities and paying corporate dues

The negotiation delegation of the Kurdistan Regional Government responded, on Saturday, February 22, 2025, to the statement of the Iraqi Ministry of Oil on the resumption of the export of the region’s oil through the port of Cihan.

The delegation said in a statement of which “Al-Jabal” received a copy, that “regarding what was stated in the statement of the Federal Ministry of Oil to complete the procedures for resuming the export of crude oil from the fields of the Kurdistan Region, we would like to show that despite the confirmation of the regional government’s commitment to apply the First Amendment Law of the Federal General Budget Law on the re-export of oil produced from the fields of the region to the Turkish port of Ceyhan through the Petroleum Marketing Company (SUMO), in our joint meeting with the delegation of the Federal Ministry of Oil held on February 18, 2025 in Erbil, it was emphasized that the application of the above law requires before starting the export to agreement on the quantities allocated for the purpose of Domestic consumption according to the actual needs of the region and its obligations, as in the rest of Iraq. ”

The statement added, “The federal side also explained that the matter needs to obtain the approval of the state of the Federal Prime Minister, and on the other hand, re-export requires agreeing on a specific and clear mechanism to pay the dues of production and transport companies to the regional government, as stated in the law and in detail, which was stated in the minutes of the meeting with the delegation of the Federal Ministry of Oil. The federal side made it clear that this matter concerns the Federal Ministry of Finance and this requires discussing this issue with it.”

The statement continued, “Accordingly, we emphasize to the federal side the need to speed up the resolution of the above-mentioned issues, and to obtain approvals from the federal authorities, which we discussed in detail in the meeting, and that the regional government emphasizes the need to re-export the region’s oil as soon as possible by the Oil Marketing Company (SOMO), depositing its revenues in the Federal Treasury and maximizing revenues in the public good.”

Earlier today, the Federal Ministry of Oil announced “the completion of the procedures for resuming the export of oil produced in the Kurdistan Region through the port of Cihan in accordance with the mechanisms outlined in the budget law and its amendment and within the production ceiling set for Iraq in OPEC.”

According to a statement, the ministry requested “the regional authorities to hand over the quantities produced from the operating fields to the oil marketing company, to start exporting through the Iraqi-Turkish pipeline and the port of Ceyhan under the contracts signed with the candidate companies.”

https://aljeebal.com/posts/3827

TIDBIT FROM FNU LNU, 23 FEB

Fnu Lnu  

Article: "The Central Bank of Iraq (CBI) has announced General Tender No. (1/2025) for the supply, installation, and operation of 65 currency counting and sorting machines for its branches in Basra (35 units) and Mosul (30 units)."

  Here we have another example of Iraq spending billions to build out a state of the art banking system. 

The $64,000.00 question is, when do we get to profit from these infrastructure expenditures? 

MNT GOAT: The solution is to get off the sole peg to dollar"!! @DINARREVALUATION #iraqidinarinvestor

 

Date of resuming the export of the region’s oil through the port of Ceyhan, 23 FEB

 Date of resuming the export of the region’s oil through the port of Ceyhan

Baghdad-Mil  

The Kurdistan Democratic Party confirmed, today, Saturday, the completion of all preparations for resuming the export of the region’s oil through the Turkish Ceyhan pipeline .
Party member, Wafa Mohammed, said in a statement to “Mil”, “The resumption of the region’s oil through the Turkish Ceyhan pipeline will be in March .”
He added that “all technical preparations for resuming Kurdish oil have been completed,” adding that “what remains is to agree with the Turkish side on a price of $3 for transporting one barrel .”
He added, “Oil production will be in three stages, the first of which includes the production of 100,000 barrels per day, the second 200,000 barrels, and the third 300,000 barrels, reaching the required number of 450,000 barrels .”
Earlier today, the Iraqi Prime Minister’s foreign affairs advisor, Farhad Alaaldin, denied media reports claiming that the United States had threatened to impose sanctions on Iraq if oil exports from the Kurdistan Region were not resumed .

https://miliq.news/economy/43064–.html

MELANIE HINDS CC HIGHLIGHTS NOTES, 23 FEB

 MELANIE HINDS CC HIGHLIGHTS NOTES

Highlights

Summary

In this video, Melanie Hines, an expert commentator on financial matters related to Iraq, shares her insights on the evolving economic and political landscape of Iraq, particularly concerning the Iraqi dinar. Against the backdrop of her personal life and health tips, she discusses significant developments in Iraq, 

including the resumption of oil exports from the Kurdistan region and the importance of a unified Iraq in achieving economic prosperity. Hines emphasizes the role of the Central Bank of Iraq (CBI) in currency revaluation and highlights the integration of the Kurdistan region with Baghdad for national stability.

 She notes recent positive developments, including back payments to Kurdish citizens and ongoing dialogues aimed at enhancing Iraq’s economic framework. With a confident tone, Melanie encourages her audience to stay informed on these critical updates, suggesting that significant changes in Iraq’s currency and economic structure are imminent.

• 🌞 Rest and Reflection: Melanie shares her restful Sabbath day, highlighting the importance of taking time for personal reflection.
• 💪 Health Tips: She emphasizes the need for adequate protein intake, especially for women as they age, cautioning against fad diets that could harm muscle mass.
• 📈 Iraq’s Economic Developments: Melanie discusses the Baghdad Dialogue Conference, focusing on the unification of Iraq and the potential for a currency revaluation.
• 🔄 Oil Export Resumption: The resumption of oil exports from the Kurdistan region is framed as a pivotal step towards economic stability.
• 🌍 International Relations: Hines mentions Iraq’s aspirations to join the World Trade Organization, indicating a focus on aligning with international standards.
• 💰 Currency Revaluation: Melanie expresses her belief that the Iraqi dinar’s value is set to change, supported by ongoing economic reforms.
• 🙏 Spiritual Encouragement: She shares her faith-driven perspective on the positive outcomes regarding Iraq’s future and encourages her viewers to remain hopeful.

Key Insights

• 🌻 Importance of Rest Days: Melanie’s emphasis on Sabbath rest highlights the necessity of taking time off in a fast-paced world. This practice not only aids in mental rejuvenation but also fosters a deeper connection with personal beliefs and values.

• 🏋️‍♀️ Protein and Muscle Preservation: The insight that women lose muscle mass as they age is crucial. Melanie’s advice to focus on protein intake and weightlifting is a reminder of the importance of maintaining physical health, which can prevent age-related weight gain and other health issues.

• 📊 Central Bank’s Role in Currency Reform: The discussion surrounding the CBI’s function as the “mothership” of Iraq’s financial system emphasizes the importance of a strong central banking authority in stabilizing and potentially revaluing currency. This insight speaks to broader financial principles applicable to other nations.

• 🔗 Regional Cooperation for Stability: The notion that true development in Iraq requires integration between the Kurdistan region and Baghdad underscores the complexities of governance in diverse political landscapes. It also reflects the necessity for cooperative frameworks in achieving national goals.

• 🚢 Oil as a Pillar of Economy: The resumption of oil exports from the Kurdistan region is not just a local issue but a key factor in Iraq’s overall economic health. Oil remains a significant revenue source, and its export is crucial for funding public services and infrastructure.

• 🌐 Global Economic Integration: The mention of Iraq’s efforts to join the World Trade Organization (WTO) suggests a shift towards embracing global economic practices. This move could lead to an influx of foreign investment and better trade relationships, which are vital for long-term growth.

• ✨ Faith and Financial Outlook: Melanie’s confidence, driven by her faith, in the imminent positive changes in Iraq’s economic structure is a unique perspective. This approach suggests that belief systems can play an influential role in how individuals perceive and respond to economic challenges, fostering a sense of hope and action.

In conclusion, Melanie Hines provides a multifaceted view of the current political and economic climate in Iraq, blending personal wisdom with critical insights into the nation’s future. Her discussion on health, economics, and spirituality offers viewers a comprehensive understanding of the interplay between personal well-being and broader societal developments. As Iraq navigates its path towards stability and growth, the insights shared in this video serve as a reminder of the interconnectedness of individual actions and national progress.

FIREFLY: the Iraqi dinar will regain its strength!! @DINARREVALUATION #iraqidinarinvestor

 

New reform plans for the banking sector in Iraq, 23 FEB

 New reform plans for the banking sector in Iraq

The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, stressed that achieving a unified vision to study the situation of banks in Iraq requires the integration of the national banking market within a homogeneous framework aimed at enhancing the stability of the national financial system and improving its performance in the fields of credit, digital payments and financing economic development.

Saleh said in a special statement to {Euphrates News}, that “the first vision focuses on the importance of achieving integration between national banks to enhance their role in supporting the Iraqi economy, pointing out that this requires modernizing the financial infrastructure and adopting modern technologies to meet the requirements of the age.

The second vision, according to the financial advisor, is related to the development of two comprehensive reform plans targeting the public and private banking sector, with the aim of improving the performance of these institutions in accordance with international standards. He explained that the reform will include improving governance and financial management and enhancing transparency, which will facilitate the involvement of Iraqi banks in the global financial relations network.

Saleh added that the immediate goal of banking reform is to enable Iraqi banks to deal more effectively with the outside world, to ensure economic openness and attract foreign investments, as well as strengthen Iraq’s position in the international financial arena.

This trend comes in light of the government’s continuous efforts to develop the financial sector and enhance its role in achieving sustainable development and supporting the national economy, as banking reform is seen as a fundamental step towards achieving these goals.

Ragheed

https://alforatnews.iq/news/خطط-إصلاحية-جديدة-للقطاع-المصرفي-في-العراق